Overview: 

One of the most developed countries in the world, Australia has a stable economy, high standards of living, and a distinguished human development index. All these factors greatly attract foreign entrepreneurs who would like to expand their business in this country. 

Australia is a huge continental state with a vast market of services. The most popular of them are financial and medical services. 

The Australian government supports business structures as much as possible, introducing various types of funding, grant programs, and activities that help entrepreneurs to successfully develop. 

Clevver specialists take care of all organizational issues and provide a full package of documents upon completion of the company incorporation. No personal presence is required to open a business in the jurisdiction — with Clevver assistance, you can form a company remotely and get all the necessary legal papers digitally. Learn more about starting a business in Australia here. 

Taxation in Australia 

It’s vital to know that resident and non-resident companies in Australia are taxed differently. 

• Corporate Income Tax 

On the Australian Taxation Office (ATO) website, the standard rate of corporate income tax in Australia is 30%. A reduced rate is allowed if the company’s annual turnover is less than 50 million Australian dollars (about 35 million U.S. dollars). Companies that are resident in Australia pay corporate tax on profits from worldwide sources. Profits of non-resident companies in Australia are taxable only if they were made in Australia and from sources within Australia. 

• Tax on dividends 

Dividends distributed to non-resident Australian shareholders are taxed at 0% if the company has previously fulfilled its tax obligations in full. 

• Capital Gains Tax 

Capital Gains Tax (CGT) in Australia is payable but is not paid separately. It is included in the amount of income tax. Although you do not have to pay a separate tax, you are required to report capital gains and losses on your tax return.  

• VAT 

Value-added tax in Australia is called the Goods & Sales Tax (GST). The GST is a general tax of 10% on most goods, services, and other taxable items sold or consumed in Australia. 

All companies in Australia are required to prepare and submit an annual tax return. The reporting period in Australia generally begins on July 1 and ends on June 30, unless otherwise agreed by the parties with the approval of the ATO. 

Incorporation in Australia 

Australia is recognized as one of the countries which economy has consistently shown impressive positive development dynamics. Company registration in Australia offers a safe business environment, well-developed legislation, as well as the possibility to receive substantial entrepreneurial support from the government. 

Form your Australian business easily, quickly, and digitally — reach out to the professionals of Clevver. We will always give you the help you need. 

CHOOSE CLEVVER TO OBTAIN: 

• Support from experts in Australian company registration;    
• Online procedure of cooperation with Clevver;     
• A complete set of documentation on the company formation in a digital format;     
• Opportunity to receive numerous extra to business incorporation services in Australia (the registered addresses in 4 major cities of Australia (Brisbane, Melbourne, Perth, Sydney), mail-handling service, and a local phone number);   
• Steadfast customer support and individual approach to each client. 

Final Thoughts 

Company registration in Australia provides access to the markets of a country with a developed economy and attractive conditions for doing business. The Australian Government's careful attitude to entrepreneurs and various support programs create the necessary foundation on which any successful business is built. 

With Clevver helping hand, you can start your business in Australia remotely, your presence is not required. We are ready to provide you with the necessary support in the company establishment. For more information, contact us now.

DISCLOSURE NOTICE: Any legal or tax advice in this communication (including any attachments) is for information purposes only and is not intended to be used, and cannot be used against Clevver or its Sender. The sender is neither an Accountant nor a Lawyer and cannot be made liable. Please, contact your tax accountant for individual consultation. Clevver does not provide any legal advice itself. Clevver works together with a network of lawyers and tax advisors that provide all necessary individual legal advice.